Mining ETH is now no profit

[mak013]

This is trading/investment. Not everyone can trade good enough. And in mining, even if you sell mined coins right when got - you get profit. And you have an equipment that costs smth. In investment you can loose it all.

But for me that guy was true and what? depreciation of your hardware looks the same with the risk that will you get when you try to deal with trade or investment. I can say mining is the same as you are investing your money to get something that can give you monthly return and then you will get depreciation on your mining rig as the risk that you must deal when you investing your money to buy mining rig to mine crypto.

For last 3 years i changed 4 fans for GPU and made 1 selfmade cooling system. My rigs are between 1060 and 1080ti. Nowadays i can sell them at 75% from their purchase price. This is always, what you need to know about depreciation.
So, even if i`d got nothing - i lost 25% of my money. Looks like the same risk with loosing everything?
Yes, you can trade/invest. But if you`ve read post that i quoted - my answer was why someone is mining.

[ikicha]

You forgot something.
Blocks reward.

1 year ago, ETH Block rewards is 4 ETH/Block.
But today, is decrease to 2 ETH/Block only.

And, 1 year ago, ETH Price is $1000, but today is only $250

But in spite of all this awful things people still mining ETH. May be they know something? Or may be they just are able to use a calculator? The last 3 years there were only about 5-6 months than all were happy. All another time someone mined and got profit and someone cried.

I don't know why, my opinion they are still mining is only 2 reasons.
1. Mining ETH and holding. They hope eth will rise maybe 2x or 3x in next month and sell it for profits.
2. They are still mining because electricity free

[rdluffy]

You forgot something.
Blocks reward.

1 year ago, ETH Block rewards is 4 ETH/Block.
But today, is decrease to 2 ETH/Block only.

And, 1 year ago, ETH Price is $1000, but today is only $250

But in spite of all this awful things people still mining ETH. May be they know something? Or may be they just are able to use a calculator? The last 3 years there were only about 5-6 months than all were happy. All another time someone mined and got profit and someone cried.

I don't know why, my opinion they are still mining is only 2 reasons.
1. Mining ETH and holding. They hope eth will rise maybe 2x or 3x in next month and sell it for profits.
2. They are still mining because electricity free

If someone have electricity for 6 cents for example, and a big farm, it's very profitable

[Viceroy]

ETH havs high difficulty but i think it's profitable, i heard people doing really great with that. on the other hand,
i read the comments below and see sense in it was well.
but we may assume that your mining is profitable when your electricity costs not as much as a new iPhone.
people will continue with ETH no matter what, just the ways of doing it will be mutating more and more

[Dewi Aries]

ETH havs high difficulty but i think it's profitable, i heard people doing really great with that. on the other hand,
i read the comments below and see sense in it was well.
but we may assume that your mining is profitable when your electricity costs not as much as a new iPhone.
people will continue with ETH no matter what, just the ways of doing it will be mutating more and more

For who still mine ETH maybe in their place cost of mining is not big, or maybe really cheap. Or maybe who still believe ETH will be rocketing like bitcoin price in future. Well, each people have their own reason for sure.

[superstarbtc]

You forgot something.
Blocks reward.

1 year ago, ETH Block rewards is 4 ETH/Block.
But today, is decrease to 2 ETH/Block only.

And, 1 year ago, ETH Price is $1000, but today is only $250

But in spite of all this awful things people still mining ETH. May be they know something? Or may be they just are able to use a calculator? The last 3 years there were only about 5-6 months than all were happy. All another time someone mined and got profit and someone cried.

I don't know why, my opinion they are still mining is only 2 reasons.
1. Mining ETH and holding. They hope eth will rise maybe 2x or 3x in next month and sell it for profits.
2. They are still mining because electricity free

About which country you are talking about because in my country the electricity is not free for me, mining ETH is a very good advantage because in future the price of ETH will surely increase in the market. I think now they are getting lower rewards for ETH mining.

[TheHas]

Some people mine for other reasons than direct profit.

Plus I already have a mining rig and cards, so why not put them to work?

And I'm bullish on ethereum, so of course I'll keep mining.

[mak013]

Ok. Lets look at WTM.
RX480: 1. electricity cost $0.2, profit about 0; 2. electricity cost $0.15, profit about $0.2 per 1 GPU; 3. electricity cost $0.1, profit about $0.35 per 1 GPU; electricity cost $0.06, profit about $0.5.
All that cries - all of you have electricity about $0.2? Or you want to get $10 per GPU and ROI 10 days? Compare profit with profit that you can get in real world.

[spok]

Hi,

I live in Lithuania so mining last two years with no stop, even if profit was 20cents per day.

So i have 3 rigs

1 is 6x1060 6 gb - which makes 145mh/540w
2 is 6xrx580 8gb makes 186mh/800w
3 is 7rx580 8gb makes 214mh/1000w

so i'm getting ~545mh @ 2450w ~~

So it's revenue of 353usd/month with 172usd profit after electricify

electricify cost for me is 0.1025usd/kWh.
last year it was 0.9usd/kwh, this year it became more expensive.
So barely mined ETH/ETC with my RX rigs, GTX was on some other coins, just turned it to ETH when prices started to rise again.
ofc i will not ROI, because equipment was bought at high prices, but anyway it was good start. and i'm happy that i'm mining now, it's good hobby. also

[swogerino]

Mining ethereum is profitable right now with an average energy price of 0.07 kilowatt/dollar as you make about 4 dollars daily or 120 dollars monthly and the energy price is about 60 dollars for a rig.Upscale this with many miners and with 20 mining rigs you make 1200 dollars net profit monthly.

[ikicha]

You forgot something.
Blocks reward.

1 year ago, ETH Block rewards is 4 ETH/Block.
But today, is decrease to 2 ETH/Block only.

And, 1 year ago, ETH Price is $1000, but today is only $250

But in spite of all this awful things people still mining ETH. May be they know something? Or may be they just are able to use a calculator? The last 3 years there were only about 5-6 months than all were happy. All another time someone mined and got profit and someone cried.

I don't know why, my opinion they are still mining is only 2 reasons.
1. Mining ETH and holding. They hope eth will rise maybe 2x or 3x in next month and sell it for profits.
2. They are still mining because electricity free

About which country you are talking about because in my country the electricity is not free for me, mining ETH is a very good advantage because in future the price of ETH will surely increase in the market. I think now they are getting lower rewards for ETH mining.

Yeah, green energy maybe solar panel.
ETH is a good for mining, and ETC, RVN.
But, Don't be greedy and don't sell instantly. Just hold a moment and they are give more profits for you

[Enzo05]

Mining is still profitable especially for those who didn't pay for their electricity cost. I do not pay electricity but the thing is I have a very poor internet connection here in my location that's why I do not mine it for now.

[rdluffy]

Mining is still profitable especially for those who didn't pay for their electricity cost. I do not pay electricity but the thing is I have a very poor internet connection here in my location that's why I do not mine it for now.

How is it possible to not pay electricity?
Do you have free electricity in your country?

I'm very curious about that, a lot of people say about free electricity

[bitkanu]

Mining is still profitable especially for those who didn't pay for their electricity cost. I do not pay electricity but the thing is I have a very poor internet connection here in my location that's why I do not mine it for now.

Guessing from your post you might be living near a power plant, whether it sorts of renewable or unrenewable ones however majority of people are not in that situation though, there's an alternative indeed called solar panel but the efficiency is so so, also considering that there's requirement to get the highest electricity output from using this, it's just undeniable statement that mining ETH is currently not profitable.

[sh4dtechnr]

I do not mine, honestly.
but, if I were engaged in this, then surely I would mine the ethereum.
Bitcoin, of course, cannot be mined now on video cards, but I think it is worth mining the second most capitalized coin.
Moreover, the price is now growing and in the near future, it seems to be worth very well. Furthermore, ether is the least volatile of all altcoins, and the most liquid.
It is already clear that the Ethereum is like Google in the world of cryptocurrencies.

[hulla]

Not profitable might be in two parts, do you mean what you have left after converting ETH to USD left you with zero profits or you did not mine any impressive amount of ETH ?
The first is as a result of power bills while the second is as a result of ETH high difficulty.

He's definitely talking about after converting ETH-USD the bill spent left him zero or nothing for 2ETH are acquire per block this days. But, I will advice the OP is switch his mining equipment to better one and dual mine ETH with other reasonable altcoin.

[Uju4real]

Hello everybody,
Mining ETH now seems to be no profit.
I use VGA P106-100 6GB;  6 card
150Mh/s; 750W

Why many people still are mining ETH??

Many people are still mining Eth because it is still very much profitable to them and I for example am still very much into mining my lovely Eth

[KlepZ]

Hello everybody,
Mining ETH now seems to be no profit.
I use VGA P106-100 6GB;  6 card
150Mh/s; 750W

Why many people still are mining ETH??

it depends on what hardware you are using, but yes mining ethereum still easily pays for the electricity it uses.
I currently have 6x ATI RX480 mining ethereum. I do sometimes switch to ETC, EXP or UBQ depending on who tops the charts at whattomine.

[pickupcoin]

Hello everybody,
Mining ETH now seems to be no profit.
I use VGA P106-100 6GB;  6 card
150Mh/s; 750W

Why many people still are mining ETH??

it depends on what hardware you are using, but yes mining ethereum still easily pays for the electricity it uses.
I currently have 6x ATI RX480 mining ethereum. I do sometimes switch to ETC, EXP or UBQ depending on who tops the charts at whattomine.

I am not in the mining industry for a long time. Now I am thinking to buy two machines with 6x RX470. With electricity cost $0.09 kwh
whether it is better to aim 480 cards?
more I think about this as a hobby, so I don't want to spend too much money and to have a big ROI time

[xxcsu]

Hello everybody,
Mining ETH now seems to be no profit.
I use VGA P106-100 6GB;  6 card
150Mh/s; 750W

Why many people still are mining ETH??